Eicher eyes five-fold growth in heavy duty truck sales

New Delhi, Sep 4 (UNI) Commercial vehicles maker Eicher Motors Ltd (EML) today said it will concentrate more on the heavy duty trucks segment, where it eyes a five-fold growth in its operations.

''At present, we will like to focus on the heavy duty segment,'' Eicher Motors MD Siddhartha Lal said while talking to reporters here on the sidelines of the annual SIAM convention.

This segment has a great potential and we are eyeing a five-fold growth in this, he added.

The company recently signed a joint venture deal with Swedish truck maker AB Volvo, known as Volvo Eicher Commercial Vehicles Ltd, for manufacturing trucks and buses.

Eicher Motors, which has transferred its commercial vehicle business to the new JV company, said the operations of the new JV company would be considered effective from July 1 this year.

The JV would be a subsidiary of EML, where Eicher would hold 54.4 per cent equity and Volvo 45.6 per cent.

Eicher brand commercial vehicles will continue to roll out from the Pitampur plant, which had a capacity of about 4,000 units per month, while Volvo will also continue to manufacture trucks at its facility in Bangalore.